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Why Rayfield Gardens City Estate Ibadan is adopting Solar Power – Fendini Homes MD Reveals

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The MD/CEO of Fendini Homes, Prince Laja Adeoye, has disclosed the idea behind the adoption of solar energy to power the Rayfield Gardens City Estate in Ibadan.

Adeoye, the developer of Rayfield Gardens City Estate, Christopher Adebayo Alao Akala GRA, Wofun, Akobo Extension, Iwo Road, Lagelu Ibadan, explained this in an exclusive interview with Journalists in Ibadan, Oyo State capital.

According to him, he said that for any modern estate to function and to have near constant electricity, they must be able to provide residents with constant power, which has made Rayfield Gardens City to switch all the street light in the estate to 100% Solar power.

Laja further averred that, Fendini Homes is out to give their subscribers a whole new living experience, in a more serene environment, with modern Architectural smart home designs, and quality construction aimed at creating lasting impression for the subscribers.

He noted that Fendini aim is to ensure that at no point the Estate is in darkness, because they cannot control the government generated electricity but with Solar, their subscribers can be assured of effective Estate lighting at night, which will enhance liveliness, visibility and security of residents.

He said: “As you can see in our proof of concept, we have had street lightning on for the past one year in the Estate, as there is no night you come here to our Estate that you won’t see light.”

“In addition to perimeter fence lighting units in every homes, each of the houses will have solar light pole installed to them, to ensure that the entire Estate is well illuminated at every point in the night.”

“Renewable sustainable Energy is the game changer and for us, we are out to ensure that we provide all our residents with quality Infrastructures, such as solid paved roads, drainages, multi-layer power (Grid and Solar Power) and Security, treated water plants, fiber optics fast internet penetration/5G Network and smart homes automation technology.”

“We carefully and painstakingly designed each of the houses to have at least 10-20KVA of solar power installed on them, depending on energy needs of the residents, to phase out generators in order to achieve Zero Noise Estate.

“To us, the beautiful and esthetics environment matter so much to us, as there will be clean air, clean environment, flowers and Gardens.

“Again, we are also trying to achieve Zero noise, away from from fossil fuel powered Generator, which comes with carbon emissions, but Solar Lights on the Streets and those installed in each units of the houses will mitigate against air and noise pollution in the Estate.

“We are also going to have centralized treated water plants, which will be piped and metered to each units of the houses. All of these will be handled by the Facility Management department of the Estate, thereby creating good services and value to all the Subscribers.

Laja also briefly spoke about funding and investment opportunities of the project, and according to him, he said interested Sub-developers, who wants to invest to develop some of the units of the Estate are allowed to join as they already have a template for investors, who wants to do business with the company.

“We have designed a master plan, which fits for everyone who wants to do business with us, and interestingly, we have landed spaces in our commercial wing for those who wants to invest and build Standard Hotels, Primary and Secondary school, Office complex/ Banking Hall/Show Rooms, Amusement Park, Hospital/Pharmacy Complex, Conference Center, gym house and more.

“The idea is to have a one stop shop Estate, first of it’s kind in Oyo State, where you can simply walk into Shopping Complex in the Estate to buy groceries, visit gym to exercise your body for fitness, take your kids to school without hassles, host your friends in the Hotels, or take your kids to amusement park for holidaying, he said.

Development of Rayfield Gardens City Estate, which situated at Christopher Adebayo Alao Akala GRA Ibadan is a Public Private Partnership (PPP) initiative between Oyo State Government and Fendini Limited, to provide about 400 housing units to residents and interested prospective home buyers across the world.

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Naira Exchange Rates Friday, October 16

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BLACK/ PARALLEL MARKET RATES

₦1370 DOLLAR (USD)

₦1800 POUND (GBP)

₦1510 EURO (EUR)

₦970 CANADIAN DOLLAR (CAD)

₦65 SOUTH AFRICAN RAND (ZAR)

₦350 UAE DIRHAM (AED)

₦190 CHINESE YUAN (CNY)

₦100 GHANAIAN CEDI (GHS)

₦2300 WEST AFRICAN CFA F.(XOF)

₦2200 CENTRAL AFRICAN CFA F.(XAF)

₦850 AUSTRALIAN DOLLAR AUSSIE (AUD)

CBN OFFICIAL RATES

DOLLAR (USD)₦1331.61

POUND (GBP)₦1764.26

EURO (EUR)₦1490.48

SWISS FRANC (CHF)₦1608.23

JAPANESE YEN (JPN)₦8.4

CFA FRANC (XOF)₦2.27

WEST AFRICAN UNIT OF ACCOUNT (WAUA)₦1802.33

CHINESE YUAN (CNY)₦199.01

SAUDI RIYAL (SAR)₦354.83

SOUTH AFRICAN RAND (ZAR)₦80.49

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WEF could appoint Lagarde as its next chair, sources say

The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of ⁠the matter.

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•European Central Bank President Christine Lagarde

The World Economic Forum could appoint Christine Lagarde as its next chair as soon as next month, four people close to the organisation told Reuters, meaning she would step down early as European Central Bank chief and trigger a wider ‌reshuffle at the top of the ECB.Lagarde’s ECB term is scheduled to end in October 2027.

Leaving early would give European Union leaders a chance to pick a new ECB President before France’s spring presidential election, which opinion polls suggest the far-right could win, and could pave the way for a deal involving two other senior ECB roles.

The WEF’s Board of Trustees, which includes Lagarde herself, was due to meet on November 2 and could elect her as its next chair, said the people close to the organisation, who spoke on condition of anonymity due to the sensitivity of ⁠the matter.

No final decision has been taken yet, they said.

A spokesperson for the WEF said the forum could not confirm when the next full Board of Trustees meeting would take place, but that the aim was to hold one before the end of the year.

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Germany plans tax on sugary drinks

The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.

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The German cabinet has approved draft legislation to tax sugary drinks in Europe’s biggest economy.

If passed by the German Bundestag, the tax will take effect on 1 July 2027.

The coalition aims to raise revenue for the federal budget while encouraging manufacturers to reduce sugar content and offer healthier products.

The levy is intended to ease pressure on the healthcare system, which faces costs of more than €2 billion every year linked to the high consumption of sugary drinks, which contributes to obesity, diabetes and tooth decay.

According to the federal government, Berlin is using the tax to implement “what associations from the fields of health, science, child protection, and consumer protection have long been demanding.”

The tax is expected to generate additional revenue for the federal government of €690 million in 2027 and €925 million in 2028.

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